One possibility for helping to alleviate the state’s pension crisis is apparently no longer on the table, as House Speaker Greg Stumbo says lawmakers won't pursue a 6-percent tax on lottery tickets as a source of revenue. Stumbo says the idea was rejected due to fears that a tax might have reduced the sale of lottery tickets, which generate money for education programs in Kentucky.
Stumbo says lawmakers will now unveil legislation Tuesday that will call for the lottery to create new games, including Keno, which could generate about 25-million dollars for the pension system. The legislation is also expected to call for tax revenue from slot-like machines, called Instant Racing machines, at horse tracks to be designated for pensions, which Stumbo says could eventually net 100-million dollars per year for pensions.
Stumbo says lawmakers will now unveil legislation Tuesday that will call for the lottery to create new games, including Keno, which could generate about 25-million dollars for the pension system. The legislation is also expected to call for tax revenue from slot-like machines, called Instant Racing machines, at horse tracks to be designated for pensions, which Stumbo says could eventually net 100-million dollars per year for pensions.
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